Daily Archives: April 24, 2020

Realtor.com® Connects Homeowners with Options to Sell Now, Move Later

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Realtor.com® users can now evaluate EasyKnock options to access their house value while remaining in their home during uncertain times

Santa Clara, CA – April 23, 2020 (PRNewswire) The COVID-19 crisis has prompted the need for 9 percent of consumers to unexpectedly move to a new home within the next six months, according to a recent consumer survey from realtor.com®. In an effort to provide more flexibility to consumers impacted by the crisis, realtor.com® is working with EasyKnock, a provider of “sell now, move later” options which enable consumers to access the value of their home without having to move right away.

As part of this solution, realtor.com® users will be able to quickly determine their eligibility for, and likely proceeds from, two EasyKnock programs — Sell and Stay and MoveAbility. Sell and Stay offers longer term lease options and the opportunity to buy back the home, while MoveAbility is aimed at homeowners who would like to move but haven’t found their new home yet.

Through the programs, EasyKnock purchases the home for the full appraised value with a combination of cash and an option, and closes on average within 21 days. Homeowners can choose to rent the home back for as long as they’d like. When the time comes, the consumer gives EasyKnock the go-ahead to sell the home on the open market and can receive any additional proceeds when the sale closes.

“The COVID-19 crisis has had a profound impact on the job market which may lead some families to make extremely difficult decisions,” said Todd Callow, vice president, product management, realtor.com®. “As part of our mission to provide consumers with all of the available information to help make informed decisions, realtor.com® will inform consumers about EasyKnock’s options so they can determine if the programs are a good fit for their financial and housing needs.”

Realtor.com® has launched a dedicated site with information, resources and tools to help consumers navigate these uncertain times. Additionally, realtor.com® has made a series of product updates to help consumers get as much information and detail as possible about a property without physically visiting. This includes more 3D tours, video chats and access to Livestream Open Houses.

To learn more, go to https://www.realtor.com/covid-19/

About realtor.com®
Realtor.com® makes buying, selling and living in homes easier and more rewarding for everyone. Realtor.com® pioneered the world of digital real estate 20 years ago, and today through its website and mobile apps is a trusted source for the information, tools and professional expertise that help people move confidently through every step of their home journey. Using proprietary data science and machine learning technology,realtor.com® pairs buyers and sellers with local agents in their market, helping take the guesswork out of buying and selling a home. For professionals,realtor.com® is a trusted provider of consumer connections and branding solutions that help them succeed in today’s on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information, visitrealtor.com®.

Media Contact:
Nicole Murphy, nicole.murphy@move.com

Nearly 3 in 4 Realtors® This Week Report Sellers Haven’t Lowered Listing Prices to Attract Buyers, Suggesting Calmness and No Panic Selling by Homeowners

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Washington, D.C. – April 23, 2020 (nar.realtor) Nearly 3 in 4 Realtors® currently working with sellers this week – 74% – reported their clients haven’t reduced listing prices to attract buyers, according to a new survey from the National Association of Realtors®. This suggests interested home sellers are remaining calm and avoiding panic selling during the uncertain economic environment brought about by the coronavirus pandemic.

“Consumers are mostly abiding by stay-in-shelter directives, and it appears the current decline in buyer and seller activity is only temporary, with a majority ready to hit the market in a couple of months,” said NAR Chief Economist Lawrence Yun. “The housing market faced an inventory shortage before the pandemic. Given that there are even fewer new listings during the pandemic, home sellers are taking a calm approach and appear unwilling to lower prices to attract buyers during the temporary disruptions to the economy.”

NAR’s latest Economic Pulse Flash Survey – conducted April 19-20, 2020 – asked members how the coronavirus outbreak has impacted the residential and commercial real estate markets. Several highlights include:

  • More than a quarter of Realtors® – 27% – said they were able to complete nearly all aspects of transactions while respecting social distancing. The most common technology tools used to communicate with clients are e-signatures, social media, messaging apps and virtual tours.
  • Residential tenants are facing rent payment issues, but many delayed payment requests are being accommodated. Forty-seven percent of property managers reported being able to accommodate tenants who cannot pay rent, a 6% increase from a week ago. Nearly a quarter of individual landlords – 24% – said the same, unchanged from last week.

NAR also today released its 2020 Animal House: Pets in the Home Buying and Selling Process report, which analyzes Realtor® recommendations and actions taken by home buyers and sellers to best accommodate their pets and present their homes in the best light. Several highlights include:

  • More than 4 in 10 U.S. households – 43% – would be willing to move to better accommodate their pets, demonstrating that this is a priority among consumers.
  • Almost 1 in 5 recent home buyers – 18% – said it was very important that their new neighborhood is convenient to a vet or near outdoor space for their pets.
  • A majority of Realtors®’ clients – 68% – said a community’s animal policy influenced their decision to rent or buy.

“As households in the U.S. pursue comfort, companionship, and home entertainment, animal shelters were cleared out in many cities,” said Jessica Lautz, NAR vice president of demographics and behavioral insights. “These pet adoptions could lead to future home sales as families seek to accommodate the best living spaces for their four-legged family members.”

View NAR’s 2020 Animal House: Pets in the Home Buying and Selling Process report here:
https://www.nar.realtor/research-and-statistics/research-reports/animal-house-pets-in-the-home-buying-and-selling-process.

View NAR’s Economic Pulse Flash Survey full report here:
https://www.nar.realtor/research-and-statistics/research-reports/nar-flash-survey-economic-pulse.

View NAR’s Weekly Housing Market Monitor here:
https://www.nar.realtor/research-and-statistics/weekly-housing-market-monitor.

The National Association of Realtors® is America’s largest trade association, representing more than 1.4 million members involved in all aspects of the residential and commercial real estate industries.